Technical and Fundamental Analysis of GBPUSD.
On the daily chart, the 200EMA shows me where the long term trend will be for the currency, the EMA showed that price was below the EMA which indicates that the trend is bearish.I can also see a breakout on the price resistance line(1.26978) so it could show that the price will continue to go down.I switched to the 4 hour to see if the Ichimoku signals show bearish signals, there is bearish cross with Kijun Sen is in top of the Tenken sen which shows price is bearish. Price is also below the pink cloud which shows signal for the that the trend is bearish. Also the Chikou space shows that the line is below price which gives e the confirmation that the trade is more likely to go bearish. The fundamental news was on the GBP and it was the U.K. Average Earnings Index +Bonus is the measure of the change in the price businesses and the government pay for labour, including bonuses. The Average Earnings figure gives us a good indication of personal income growth during the given month, but also potential inflationary pressures. The U.K. Claimant Count Change is the measure change in the number of unemployed people receiving unemployment benefits in the U.K. during the reported month. A rising trend indicates weakness in the labour market.. as both of the readings were lower than previous, the Average Earnings Index +Bonus previous was 2.5% and the actual was 2.4%, the U.K. Claimant Count Change previous was 9.0K and the actual forecast was 6.2K .it means that price will do be in a bearish forecast. I would go short on this major pair.
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